Reliance

How brokers can avoid cargo coverage ‘gotcha’ situations

Insurance has been a hot topic across the trucking industry over the past several years. Most often, however, insurance talks revolve around motor carriers and truck drivers. Freight brokers have largely been left out of the conversation.

Broker liability is often a gray area. In fact, multiple related cases have recently caught the attention of the Supreme Court. While the question of liability is seldom cut and dried, brokers and 3PLs are often held responsible for lost or damaged cargo. In...

https://www.freightwaves.com/news/how-brokers-can-avoid-cargo-coverage-gotcha-situations

Understanding the underwriter: How a proactive approach to insurance renewals can save you money

Insurance has been a sore subject across the trucking industry over the past few years. Many companies have struggled with increasing rates – due in large part to the rise in nuclear verdicts – while simultaneously trudging through the ongoing freight recession. 

As fleets continue to navigate this cash-strapped environment, it is important for them to take a proactive approach to insurance renewals. With the right approach, and a good insurance agent, it is often possible to save on rates...

https://www.freightwaves.com/news/understanding-the-underwriter-how-a-proactive-approach-to-insurance-renewals-can-save-you-money

Truck hijackings on the rise in Mexico

Cargo theft has been dominating headlines in recent months. As a result, logistics leaders have increased their focus on the growing prevalence of strategic theft incidents. Rampant – and often overlooked – hijacking across Mexico are another key piece of the North American cargo fraud puzzle, however.

There were 6,030 reported hijackings in Mexico between January 2023 and September 2023, according to a new data portal launched by Borderless Coverage Powered by Reliance Partners This number...

https://www.freightwaves.com/news/truck-hijackings-on-the-rise-in-mexico

Mastering cargo securement: Tips to prevent violations and ensure road safety

Severe weather, rough and steep roads, and congestion are just a few of the countless factors that can contribute to cargo becoming dislodged or shifting mid transit. Proper cargo securement is a must to protect freight, prevent claims and most importantly, keep drivers and the public safe.

While not all cargo securement violations are out-of-service violations, cargo securement violations were the fourth most common type of violation during the Commercial Vehicle Safety Alliance’s (CVSA’s) 202...

https://www.freightwaves.com/news/mastering-cargo-securement-tips-to-prevent-violations-and-ensure-road-safety

LR1 Rates Record 2021 Highs Amid Increasing Vessel Delays

East of Suez Long Range 1, or LR1 tankers traded at the highest level seen in 2021, on the back of tight supply as more ships delay their return to the Persian Gulf, reports Platts.

Tankers for cargo backhaul 

More tankers are getting backhaul employment for loading cargoes in North Asia and this has reduced the overall supply in the Middle East, sources said.

This was a significant departure from a few days ago when rates had not touched the key psychological mark of w100 even once this year and...

https://mfame.guru/lr1-rates-record-2021-highs-amid-increasing-vessel-delays/

IMO’s Bunker Oil Norms Influences Reliance GRM

  • Reliance Industries has reported a plunge in the June quarter refining margins, guided towards a stable scenario, implying the dependence on new bunker oil norms.
  • IMO to enforce a new 0.5 percent global sulphur cap on fuel content from January 2020, lowering from the present 3.5 percent cap.
  • Global fuel sulphur cap is part of the IMO’s response to heightening environmental concerns contributed by harmful emissions from ships and the new bunker oil rules have fuel sellers and shipping companies...

http://mfame.guru/imos-bunker-oil-norms-influences-reliance-grm/